How Will Legalized Pot Effect Property Owners?

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Important to owners, condominium associations, property managers and tenants, the law includes an amendment to the Illinois Condominium Property Act which allows condominium associations to place certain restrictions on the smoking of marijuana, both in common elements and in private units.

What steps can be taken in a homeowner association if one owner is interfering with the rights of another owner?

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  Conflicts between owners are inherent in shared community living. And whether misconduct is a result of an owner’s natural personality or a result of medical conditions affecting that owner, the Association and its Board cannot simply turn a blind eye. As there may be a number of corollary issues to carefully consider — rights… Read more »

I live in a condominium and the smoke from my neighbors’ cigarettes wafts into my unit through my open balcony window. Is there anything I can do?

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Conflicts between smokers and non-smokers in shared living communities is a common source of friction. Just as with noise complaints, resolution of these disputes often must be dealt with on a case-by-case basis. Unless your association amends its Declarations to ban smoking completely, your neighbor is in her right to smoke within the confines of her unit. That does not mean, however, that she may necessarily do so to the detriment of her neighbors.

Can a Homeowner Association equalize the percentage of each owner’s interest?

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  Whenever a homeowner or condominium association is formed by a developer, it is established by virtue of a Declaration which is recorded with the County Recorder. That Declaration includes a schedule of all of the Units in the association and their corollary ownership percentage. These percentages are the common element ownership percentages allocated to… Read more »

Must surplus funds from a completed homeowner association project be refunded to Owners or can it be used in other ways?

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Surplus Special Assessment Funds

When a homeowner association has to undertake large capital repair projects, it will often pay for these projects by way of charging special assessments to the owners.  Previously, when there were surpluses collected for those projects, Illinois law prohibited refunds to the owners, past or present. However, as of January 1, 2018, absent express directives… Read more »

Is an LLC the best structure for our real estate business?

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Real estate investors and developers are often well versed in assessing properties, analyzing cap rates, zoning issues, property tax concerns and other matters related to real estate due diligence. Yet they often overlook, or give little importance to, the structure of their business and the framework they establish for the ownership of the properties they… Read more »